According to data provided by Lookonchain, a tiny cryptocurrency wallet has amassed a notable asset by making a 421x profit in just 12 hours.
Joining the recent memecoin craze, the wallet purchased Magnets for just 3 SOL, or $428. Following the surge in the value of Magnet, a memecoin, it sold them for 1,241 SOL, or $180,000.
Despite selling almost all of his wallet assets, he still keeps $45,000 worth of Magnet in his wallet.
However, it is worth remembering that despite the luck of this wallet, the majority of users suffered serious losses in memecoins.
On the other hand, the latest move made by another memecoin whale also attracted attention. According to Onchain data, a large PEPE whale bought another memecoin called SPX after selling PEPE.
This whale bought $800,000 worth of PEPE between April 18 and May 15 and had an unrealized profit of $120,000.
Hours ago, this whale sold $574,000 of them and obtained $684,000 worth of SPX tokens. Within a few hours, it currently has a 16% profit.
*This is not investment advice.